AXS Technical Analysis: Buyers Where Are You?

The AXS cryptocurrency fall has finally stopped. AXS’s price fall from $166 to $11 is certainly astonishing. However, looking at the weekly timeframe, it became difficult for sellers to put pressure on the price. It’s all about the fall wave without corrections, the potential of which has simply been exhausted. Starting from the trading week of 13 June, the AXS price stopped in a relatively narrow consolidation range of $13.5-$18. For 4 weeks, market participants have been trying to resolve their relationship in this range. Source: https://www.tradingview.com/x/a5UJmZIj/ In our opinion, the probability of a breakout of this upward consolidation with the main target of $27.25 is much higher. The main question is how long the consolidation will last before a new growth impulse. An alternative scenario for AXS to continue falling will become possible after breaking down and fixing the AXS price below the $11 mark. In this case, this cryptocurrency will fall into a depression for a long time with a probable final target of $3. As long as the Bitcoin price cannot make a normal upward price rebound, we do not rule out a negative scenario for AXS. However, at the time of writing, it is not the main one for us. AXS Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/tV7BWRjm/ Analyzing the movement of the AXS price on the daily timeframe, it is possible to notice the weakening of sellers’ aggression by chan...